Verifying dynamic transaction security code in payment card system

A method comprising:

• receiving an authorization request for a purchase transaction;
• determining that a computer operated by or on behalf of an issuer financial institution is not available to receive the authorization request;
• determining whether a transaction security code included in the authorization request is valid;
• transmitting an authorization response to an acquirer financial institution with an indication as to whether the transaction security code is valid;
• and
• transmitting an authorization advice message to the computer operated by or on behalf of an issuer financial institution in regard to the purchase transaction.

An apparatus comprising:

• a processor;
• and
• a memory in communication with the processor and storing program instructions, the processor operative with the program instructions to:
• receive an authorization request for a purchase transaction;
• determine whether a transaction security code included in the authorization request is valid;
• and
• relay the authorization request to an issuer financial institution with an indication as to whether the transaction security code is valid.

A method comprising:

• receiving an authorization request for a purchase transaction;
• determining whether a transaction security code included in the authorization request is valid;
• if said transaction security code is determined not to be valid, (a) declining the authorization request, and (b) sending a message to an issuer financial institution to report said declined authorization request;
• and
• if said transaction security code is determined to be valid, relaying the authorization request to the issuer financial institution with an indication that the transaction security code is valid.